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The two sensors/gauges are not connected; oil pressure gauge in the instrument cluster and oil level orange/yellow "idiot" light. There are no red oil pressure warning lights on the US spec FZJ80. Maybe your model is different??
Also normal for the orange/yellow low oil level light to come on intermittantly
as the oil level gets close to one quart low, then it will come on more frequently as the oil level continues to drop and finally stay solid when
you reach around 1-1/2 quarts low.
IME the oil level sensor float (?bakelite) can crack apart with age which may
give odd results depending on how much of the float has broken off.
Here's another source:
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